Cummins (WBO:CMI) LT-Debt-to-Total-Asset : 0.16 (As of Dec. 2023)

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What is Cummins LT-Debt-to-Total-Asset?

LT Debt to Total Assets is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. It is calculated as a company's Long-Term Debt & Capital Lease Obligationdivide by its Total Assets. Cummins's long-term debt to total assests ratio for the quarter that ended in Dec. 2023 was 0.16.

Cummins's long-term debt to total assets ratio increased from Dec. 2022 (0.16) to Dec. 2023 (0.16). It may suggest that Cummins is progressively becoming more dependent on debt to grow their business.

Cummins LT-Debt-to-Total-Asset Historical Data

The historical data trend for Cummins's LT-Debt-to-Total-Asset can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Cummins LT-Debt-to-Total-Asset Chart

Cummins Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

LT-Debt-to-Total-Asset

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0.10

0.17

0.16

Cummins Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
LT-Debt-to-Total-Asset	Get a 7-Day Free Trial															0.16	0.15	0.17	0.17	0.16

Cummins LT-Debt-to-Total-Asset Calculation

Cummins's Long-Term Debt to Total Asset Ratio for the fiscal year that ended in Dec. 2023 is calculated as

LT Debt to Total Assets (A: Dec. 2023 )	=	Long-Term Debt & Capital Lease Obligation (A: Dec. 2023 )	/	Total Assets (A: Dec. 2023 )
	=	4746.392	/	29348.585
	=	0.16

Cummins's Long-Term Debt to Total Asset Ratio for the quarter that ended in Dec. 2023 is calculated as

LT Debt to Total Assets (Q: Dec. 2023 )	=	Long-Term Debt & Capital Lease Obligation (Q: Dec. 2023 )	/	Total Assets (Q: Dec. 2023 )
	=	4746.392	/	29348.585
	=	0.16

Cummins (WBO:CMI) LT-Debt-to-Total-Asset Explanation

LT Debt to Total Asset is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. A year-over-year decrease in this metric would suggest the company is progressively becoming less dependent on debt to grow their business.

Cummins LT-Debt-to-Total-Asset Related Terms

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Cummins (WBO:CMI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Cummins Inc (WBO:CMI) » Definitions » LT-Debt-to-Total-Asset

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Traded in Other Exchanges

CMI:USA CUM:Germany C1MI34:Brazil

Address

500 Jackson Street, Box 3005, Columbus, IN, USA, 47202-3005

Website

https://www.cummins.com

Cummins is the top manufacturer of diesel engines used in commercial trucks, off-highway equipment, and railroad locomotives, in addition to standby and prime power generators. The company also sells powertrain components, which include transmissions, turbochargers, aftertreatment systems, and fuel systems. Cummins is in the unique position of competing with its primary customers, heavy-duty truck manufacturers, who make and aggressively market their own engines. Despite robust competition across all its segments and increasing government regulation of carbon emissions, Cummins has maintained its leadership position in the industry.